Sound Shore Management Inc CT grew its holdings in Pfizer Inc. (NYSE:PFE – Get Rating) by 46.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,761,806 shares of the biopharmaceutical company’s stock after acquiring an additional 555,152 shares during the period. Pfizer comprises approximately 3.1% of Sound Shore Management Inc CT’s portfolio, making the stock its 15th biggest holding. Sound Shore Management Inc CT’s holdings in Pfizer were worth $77,097,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. Karp Capital Management Corp bought a new stake in Pfizer during the 3rd quarter valued at about $27,000. Steward Financial Group LLC boosted its holdings in shares of Pfizer by 315.3% in the second quarter. Steward Financial Group LLC now owns 544 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 413 shares during the period. Worth Asset Management LLC bought a new position in Pfizer in the first quarter worth approximately $29,000. Goodman Advisory Group LLC purchased a new position in Pfizer during the 2nd quarter worth $32,000. Finally, Johnson Midwest Financial LLC increased its holdings in Pfizer by 246.1% during the 2nd quarter. Johnson Midwest Financial LLC now owns 886 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 630 shares during the period. 67.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have issued reports on PFE shares. Credit Suisse Group set a $54.00 target price on Pfizer in a research report on Wednesday, January 18th. Bank of America cut Pfizer from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, January 4th. JPMorgan Chase & Co. set a $50.00 target price on Pfizer in a research report on Wednesday, January 18th. StockNews.com started coverage on Pfizer in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Finally, SVB Leerink increased their target price on Pfizer from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Thursday, November 3rd. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Hold” and an average target price of $53.00.
Pfizer Stock Performance
Pfizer (NYSE:PFE – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.31. Pfizer had a return on equity of 43.95% and a net margin of 29.81%. The company had revenue of $22.64 billion during the quarter, compared to analysts’ expectations of $21.04 billion. As a group, research analysts predict that Pfizer Inc. will post 6.47 EPS for the current year.
Pfizer Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Friday, January 27th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, January 26th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Pfizer’s previous quarterly dividend of $0.40. Pfizer’s dividend payout ratio (DPR) is presently 30.77%.
Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm works across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.
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